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Alkem Laboratories Posted Q4 Net Profit Surge of 313% YoY at ₹293 Crores

Pharmaceutical major Alkem Laboratories reported a significant 313.9% increase in its consolidated net profit (attributable to the company’s owners) to ₹293.5 crore in the quarter ended March 31, 2024, from ₹70.9 crore in the year-ago period. The revenue from operations was ₹2,935.8 crore in Q4 FY24, up 1.1% from ₹2,902.6 crore in the corresponding period last year.

The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew by 13.8% to ₹402 crore in the quarter under review, while the margin rose 14%. The revenue from US business stood at ₹75 million in the January-March quarter.

For the full financial year 2023-24, the net profit increased 82.4% to ₹1,795.7 crore, while revenue from operations increased 9.1% to ₹12,662.5 crore. The company also recommended a final dividend of ₹5 per equity share of ₹2 face value for FY24.

Research and development expenses for FY24 were ₹522.9 crore, or 4.1% of total revenue from operations. Commenting on the FY24 results, Dr Vikas Gupta, CEO of Alkem, said, “Our focus has been to improve EBITDA margin during the year, on the back of benefits through various cost-control initiatives being implemented along with favourable API prices. Continuing our trend of improved performance, Q4FY24 builds on the momentum gained from previous quarters with significant gross margin enhancements backed by lower raw material cost and lower intensity of price erosion in US.”

“Lower Opex across our manufacturing facilities and R&D also aided EBITDA margin. Our Biosimilars and international business has delivered strong growth across geographies. Our anti-diabetic portfolio continues to outperform the market. We are committed to carrying forward the momentum of better operational performance, building on our recent success,” he added.

Shares of Alkem Labs were trading 1.6% lower at ₹5,226 on the NSE.

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